Ladder Capital Corp Announces Second Quarter 2024 Dividend to Holders of Class A Common Stock

Rhea-AI Summary

Ladder Capital Corp (NYSE: LADR) has announced a second quarter 2024 dividend of $0.23 per share for holders of its Class A common stock.

This dividend will be paid on July 15, 2024, to shareholders who are on record as of June 28, 2024.

The decision was made by the company's board of directors.

Positive

• Dividend declared at $0.23 per share.
• Payment date is set for July 15, 2024.
• Record date for shareholders is June 28, 2024.

Negative

• No specific information on financial performance or future guidance provided.
• Lack of detailed context on overall business strategy or market conditions.

NEW YORK--(BUSINESS WIRE)-- Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) today announced the declaration by its board of directors of a second quarter 2024 dividend of $0.23 per share of Class A common stock. The cash dividend is payable on July 15, 2024 to stockholders of record as of the close of business on June 28, 2024.

About Ladder

Ladder Capital Corp is an internally-managed commercial real estate investment trust with $5.3 billion of assets as of March 31, 2024. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns. As one of the nation’s leading commercial real estate capital providers, we specialize in underwriting commercial real estate and offering flexible capital solutions within a sophisticated platform.

Ladder originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include: (i) our primary business of originating senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures; (ii) owning and operating commercial real estate, including net leased commercial properties; and (iii) investing in investment grade securities secured by first mortgage loans on commercial real estate.

Founded in 2008, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Members of Ladder’s management and board of directors are highly aligned with the Company’s investors, owning over 11% of the Company’s equity. Ladder is headquartered in New York City with regional offices in Miami, Florida and Los Angeles, California.

Forward-Looking Statements

Certain statements in this release may constitute “forward-looking” statements. These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Ladder believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results on the Company's business. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, as well as its consolidated financial statements, related notes, and other financial information appearing therein, and its other filings with the U.S. Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release. Ladder expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240614492732/en/

Investor Contact

Ladder Capital Corp Investor Relations

(917) 369-3207

investor.relations@laddercapital.com

Source: Ladder Capital Corp

FAQ

What is the second quarter 2024 dividend for LADR?

Ladder Capital Corp declared a dividend of $0.23 per share for its Class A common stock.

When will LADR's Q2 2024 dividend be paid?

The dividend will be paid on July 15, 2024.

What is the record date for LADR's Q2 2024 dividend?

The record date is June 28, 2024.

Who approved the Q2 2024 dividend for LADR?

The board of directors of Ladder Capital Corp approved the dividend.